MIRA INFORM REPORT

 

 

Report Date :

23.04.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ROSY BLUE DMCC

 

 

Registered Office :

Almas Tower, Level 31, Jumeirah Lake Towers, P O Box 340502, Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

26.02.2006

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of diamonds, polished diamonds and jewellery

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : ROSY BLUE DMCC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company

Registration Date                                   : 26th February 2006

Trade Licence Number                            : 30426

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 5

Activities                                               : Distributors of diamonds, polished diamonds and jewellery.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

ROSY BLUE DMCC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Almas Tower, Level 31, Jumeirah Lake Towers

PO Box             : 340502

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 4230644

Facsimile          : (971-4) 4230645

Email                : dubai@rosyblue.com

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Delip Mehta                                                     Indian                         Managing Director

 

·       Harshad Mehta                                                Indian                         Director

 

·       Monoj Shah                                                         -                            General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 26th February 2006

 

Legal Form                  : Limited Liability Company

 

Trade Licence No.       : 30426

 

Membership No.          : 0247

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)

 

·       Delip Mehta

 

·       Harshad Mehta

 

 

AFFILIATED COMPANIES

 

·       Rosy Blue Trading LLC

     Gold Centre Building, Zone IV, Suite 134

     Al Khor Street

     Al Ras

     PO Box: 54303

     Dubai

     Tel: (971-4) 2252221

     Fax: (971-4) 2269442

 

·       Rosy Blue Eurasia FZE

Dubai Airport Free Zone, West Wing No. 3, 3rd Floor, Suite No. 304

Dubai

Tel: (971-4) 2995914 / 2995915

Fax: (971-4) 2995916

Email: rosyblue@emirates.net.ae / dubai@rosyblue.com

 

 

OPERATIONS

 

Activities                      : Engaged in the import and distribution of diamonds, polished diamonds and jewellery.

 

Import Countries          : India, South Africa and Switzerland.

 

Subject has a workforce of 5 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources. However local informants reported that the Rosy Blue group has an annual turnover of UAE Dh 250-300 million.

 

 

BANKERS

 

·       Emirates Bank International Ltd

Baniyas Road

Deira

PO Box: 2923

Dubai

Tel: (971-4) 2256256 / 2256900

Fax: (971-4) 2268005 / 2267718

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Rosy Blue DMCC is a relatively new business with operations commencing in February 2006. It is engaged as traders of diamonds, polished diamonds and jewellery.

 

According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.30

UK Pound

1

Rs.72.92

Euro

1

Rs.64.69

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.